China’s state-backed insurance giant CPIC is partnering with crypto bank AMINA to provide investment advisory and banking services.

CPIC Investment Management (CPICIMHK), a Hong Kong-based arm of China Pacific Insurance Group (CPIC), the second-largest property insurance company in China, is collaborating with Swiss crypto bank AMINA Group to enhance its expertise in the crypto sector across the Asia Pacific region.

In a recent press release, AMINA stated that the collaboration would enable CPICIMHK to offer investment advisory and banking services as an integrated solution to the Pacific Waterdrip Digital Asset Funds.

This partnership underscores CPICIMHK’s commitment to innovation and diversification in the financial sector on the back of its license uplifts from the Securities and Futures Commission of Hong Kong to offer distribution and investment advisory services related to virtual asset investment products.

The Pacific Waterdrip Digital Asset Fund I targets early-stage blockchain startups, providing capital to foster their growth and development. The Pacific Waterdrip Digital Asset Fund II focuses on proof-of-stake tokens, offering investors a way to engage with energy-efficient and secure digital assets.

Addressing the collaboration, CPICIMHK CEO Chenggang Zhou mentioned that the Hong Kong-based firm would advise on crypto investment opportunities, while AMINA would facilitate on/off-ramping, crypto trading, and custodial services.

CPICIMHK entered the crypto market in Q2 2023 by partnering with Waterdrip Capital to launch crypto funds. It remains unclear whether CPICIMHK still relies on Waterdrip’s services after forming its new strategic partnership with AMINA Group.

For more updates and news on the latest developments in the cryptocurrency and finance sectors, stay tuned to Global Crypto News.

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